Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 ("SEBI Listing Regulations") read with Regulation 31A (8)(d) of SEBI Listing Regulations, this is to inform that the exchange ....
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Dhanlaxmi Cotex informed the exchange that BSE has rejected and closed its application seeking reclassification from 'Promoter/Promoter Group' to 'Public' category under Regulation 31A(8)(d) of SEBI Listing Regulations. The rejection was due to non-submission of required documents and clarifications despite earlier reminders. The company also has outstanding SOP (Standard Operating Procedure) fines and dues, and has requested BSE to reactivate the case so it can clear those payments. The company is awaiting a response from BSE's SOP team on the fine amount before proceeding with a fresh application.
For shareholders, this means no immediate change in the company's promoter classification. The reclassification, which would have shifted some entities from promoter to public, is on hold, and promoter obligations remain. The unresolved SOP dues are a minor compliance overhang but the company has indicated willingness to pay, limiting longer-term concern.